Rand Merchant Bank Nigeria (RMB) held an Economic Forum discussing Nigeria’s reform landscape, focusing on macroeconomic trends and digital transformation. Key speakers emphasized the importance of adapting to policy changes and highlighted the opportunities presented by economic reforms, including the liberalization of the exchange rate and tax reforms. Discussions also covered the risks associated with emerging technologies such as AI and Blockchain.
Rand Merchant Bank Nigeria (RMB) recently hosted an exclusive Economic Forum at The Wheatbaker Hotel in Ikoyi, bringing together business leaders, policymakers, and financial experts to engage in discussions concerning Nigeria’s reform landscape. Themed “Beyond the Change: Steering Through Nigeria’s Reform Complexities,” the forum focused on various subjects such as macroeconomic trends, financial markets, taxation, digital finance, infrastructure, and risk management.
Bayo Ajayi, CEO of RMB Nigeria, emphasized the substantial opportunities stemming from government economic reforms. He highlighted that businesses need to adapt to these changes in order to thrive. Specifically, he pointed out that liberalizing the exchange rate and implementing tax reforms could spark investment and enhance long-term economic stability. Ajayi stated, “The liberalization of the exchange rate has improved access to dollars… and enabled investment opportunities for investors.” He further expressed optimism that the ongoing economic reforms will positively impact the economy.
Strategic business positioning amidst evolving policies became a focal point during the event. Moderated by Samantha Singh-Jami, the panel, which featured experts like Dr. Christian Ebeke from the IMF, Kenneth Erikume of PwC, and Tilewa Adebajo of The CFG Advisory, explored how businesses can navigate these shifts while maintaining profitability. Dr. Ebeke remarked on the positive effects of the removal of fuel subsidies, noting, “The impact of government reforms is very clear… resulting in improvements in the current account and greater financial stability compared to previous years.”
Discussions also delved into Nigeria’s digital transformation and associated risk management. Led by Prof. Olayinka David-West from the Lagos Business School, experts analyzed the risks and opportunities offered by technologies such as Artificial Intelligence and Blockchain. Mrs. Ngover Ihyembe-Nwankwo pointed out cybersecurity as a critical concern, stating that while these technologies open new avenues, they also pose significant security threats. Dr. Femi Ogunseinde highlighted infrastructural gaps, asserting that there is a need for increased financial mobilization to bridge Nigeria’s broadband deficiencies.
As Nigeria navigates its economic reforms, the RMB Nigeria Economic Forum served as a crucial platform for leaders and policymakers to exchange valuable insights. The discussions underscored the importance of adaptability and innovation in promoting sustainable growth within the ever-evolving business landscape.
The RMB Nigeria Economic Forum successfully convened key stakeholders to address the nuances of Nigeria’s economic reform landscape. By exploring the potential that lies within government reforms and technological advancements, the discussions highlighted the pressing need for businesses to remain adaptable. The insights shared during the forum, particularly regarding policy impacts and digital transformations, are critical for driving sustainable economic growth in Nigeria.
Original Source: punchng.com
